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Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarter of last year. However, the strong start of the year has been followed by a seasonal softening. Despite the 10% fall of the clean spot MR earnings in January (m-o-m basis), the earnings averaged at mid teen levels. The opening of some arbitrage windows, like the East to West movement of naphtha cargoes, healthy trade patterns in general and a solid growth in US exports were the main driving factors.
During February, the market eased back with the Chinese New Year holidays rendering a very quiet market in the East; however, average earnings for the first two months were still a lot higher compared to the same period in 2018. In March, unplanned refinery outages in the US, led to increased gasoline imports to the East and West Coast US, while West Africa’s demand growth also contributed in what was a strong earnings’ month in the western hemisphere. In the East, Middle East’s and India’s improvements stand out, with demand for Indian coastal business opening up to non-Indian flag ships.
Indicatively, below are the earning figures of some major product tanker owners in all sizes combined, for the first quarter of 2019. SCORPIO achieved average rates of $18,570/day, TORM achieved average rates of $17,949/day while Damico’s blended TCE was $14,057/day.
Being always a good indicator for spot market expectations, the one-year-time charter rates for the MR size have been gradually improving, settling at the end of Q1 at around $14,000/day and $15,500/day for conventional and Eco MRs, respectively.
As far as Q2 is concerned, April and May saw a slowdown for most of the product tanker markets, while LR2 earnings have remained relatively flat. A major factor of this slowdown has been the seasonal refinery maintenance in Europe, US, Middle East and Asia, which is currently at its peak.
The remaining segments experienced a fall in spot earnings and with Owners remaining bullish on TC rates, period business activity slowed down as charterers were assessing the earnings potential going into next year.
Looking forward, many tanker market participants have strong faith that certain short term and longer term fundamental developments will act as game changer for the product tanker market. Much has been said about the increase in refinery capacity and the new IMO 2020 regulations that will push the market to improved levels in the coming years, with some expecting to see this uptrend starting as early as in the second half of 2019.
By Stelios Kollintzas
Tanker Chartering Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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Showing 1226 to 1230 news of total 6871 |
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- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
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